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Nintendo Co. Ltd. Message Board

  • polishqueue polishqueue Jan 29, 2008 4:24 PM Flag

    Revised Target for NTDOY

    A Reuters article quoted last Friday (Jan 25th) on ZDNet ( says J.P. Morgan Chase, acknowledging that Nintendo's sales and profits continue to outpace its expectations, has raised its target share price to 80,000 yen ($748.50) from 75,000 yen ($701.72) while maintaining its "overweight" rating".

    Those figures refer to prices of actual Nintendo Japan shares on the Tokyo Stock Exchange.

    J.P. Morgan Chase is the depositary for Nintendo American Depository Receipts (ADRs), which are available to us as NTDOY on the pink sheet market (NTDOY.PK in Yahoo listings). Each share of Nintendo Japan equals eight ADR shares.

    The target price was updated Friday to US$748.50 (which, of course, reflects the exchange rate as of Friday -- or possibly C.O.B. Thursday). That would make the target price for NTDOY shares $93.56, which is way more than even the lofty figure I bought in at.

    I should also mention that Nintendo's fiscal year ends March 31, which indicates to me that the depositary for the ADR believes this stock will move from Friday's $60.35 (or $56.70; I can never quite figure out what day it is there) to $93.56 within about two months.

    Fourteen new games were released for Wii and DS this month alone, two of them published by Nintendo.
    I think this would be a VERY bad stock to be short in right now.

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